New record levels achieved in 2022

February 1, 2023

Press release from Kaunis Iron

New record levels achieved in 2022

2022 was a profitable year for Kaunis Iron with new record levels in production, despite an uneasy global market.
“We have succeeded with our ambitions and goals”, says Klas Dagertun, CEO of Kaunis Iron.

2022 was a year characterised by turbulence and uncertainty, with factors such as pandemic, war and recession. Kaunis Iron successfully managed all challenges faced by the company and can now look back on yet another profitable year of operations as it presents its year-end report for 2022.

Klas Dagertun, CEO of Kaunis Iron:

“We have managed to produce and deliver a product of the right quality and quantity to our customers. We have managed the economic challenges we have faced and are able to look back on yet another positive and profitable year. This is important for us, for the communities in which we operate and for Sweden’s green industrial transition as a whole.”

The company’s production of iron ore products in 2022 exceeded the previous year and reached a new record level of 2.27 million tonnes (2.16 million tonnes in 2021).
Another milestone during the year was the Swedish Land and Environment Court’s positive judgement regarding Kaunis Iron’s application for a new expanded environmental permit.

“When the Land and Environment Court’s judgement of 1 December 2022 comes into force, we will be able to actively commence the next phase of building a sustainable mining industry for future generations. The two new open pits, Sahavaara and Palotieva, will provide us with the time horizon we need to develop additional new mineable deposits. This is an insight that gives cause for optimism.”

Kaunis Iron also commenced work on Sweden’s largest wetland restoration project during the year.

Åsa Allan, Deputy CEO of Kaunis Iron:

“This is a project where we contribute to both social and ecological sustainability by developing the know-how of our local contractors who are carrying out the work while also contributing to an improved climate and increased biodiversity.”

Key figures for 2022:

  • Net sales: SEK 2.7 billion.
  • Net profit after financial items: SEK 827 million.
  • Net margin: 30.3%.
  • Production of iron ore products: 2.27 million tonnes.
  • Equity ratio: 66.6%.
  • Equity: SEK 1.8 billion.

Read the whole year-end report here >

Originally published on 1 February.

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